It will call for plastic bottles to be taxed at a rate of 15 pence (about 20 cents) to force plastics producers – instead of councils – to pay for recycling.

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And a 'plastics agency' would be created after Brexit to establish reduction targets with the aim of ensuring that all plastics would be recyclable across Britain within seven years.

Davies told Fairfax Media that the rest of the world would follow the UK's lead if the House of Commons passed his bill.

"Ultimately this is a global problem that needs global solutions, but if Britain taxes plastics others are sure to follow, and sooner or later all countries will tax plastic," he said.

"We must make the polluter pay in Britain and take the lead in cleaning up our act.

"It’s time the world put the life of our planet ahead of the interests of plastics producers, and [time] the financial markets caught up with the fact that backing polluters is a growing risk for investors.

"Pension funds are only just waking up to climate change risk so it's time the plastic penny dropped too.

"Let’s just get on with it."

Davies' bill is being co-sponsored by his Labour colleague Mary Creagh, two Tory MPs – Steve Double and Zac Goldsmith – as well as MPs from the Liberal Democrats, Scottish National Party, Greens and the Welsh minority party Plaid Cymru.

Although it enjoys cross-party support, the bill is unlikely to pass – at least in the short-term.

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While 66 MPs have vowed to support the bill, this is still well short of the 320 votes needed to pass the legislation.

However Davies believes support in the Commons is growing.

British Environment Minister Michael Gove has already unveiled a container deposit scheme – similar to those in some Australian states, including South Australia and NSW – and announced the UK would ban plastic cotton buds and straws.

Gove has made reducing plastics as a key priority and the government has not ruled out introducing its own tax on single-use plastics like takeaway containers and plastic bottles.

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Gove confessed to feeling "haunted" after watching Sir David Attenborough's Blue Planet II which was a ratings blockbuster in Britain last year.

The documentary series highlighted the effects of climate change and plastics on the marine world.

Britain attempted to win the support of Commonwealth countries for a ban on stirrers and straws at the recent Commonwealth Heads of Government Meeting (CHOGM) hosted in London.

Latika Bourke is a reporter for The Sydney Morning Herald and The Age based in London. She has previously worked for Fairfax Media, the ABC and 2UE in Canberra. Latika won the Walkley Award for Young Australian Journalist of the Year in 2010.